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On July 1, 2020, Bramble Corporation purchased at par 6% bonds having a maturity value of $400,000. The bonds are dated July 1 2020 ,

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On July 1, 2020, Bramble Corporation purchased at par 6% bonds having a maturity value of $400,000. The bonds are dated July 1 2020 , and mature July 1,2025, with interest payable on July 1 of each year. The bonds are classified in the held-to-maturity categoi and the company does not use reversing entries. (a) Prepare the journal entry at the date of the bond purchase. (b) Prepare the journal entry to record the interest eamed and interest received for 2020. (c) Prepare the joumal entries to record the interest earned and interest received for 2021. (Credit account titles are outomatically indented when amount is entered. Do not indent manually. If no entry is required, select " No Entry" for the account tities and enter 0 for the amounts) No. (a) Date Account Titles and Explanation Debit (b) (c) eTextbook and Media

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